The lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs will continue with a jury trial scheduled to begin in the second quarter of 2024. In the filing filed in the Southern District Court of New York on August 9, Judge Analisa Torres stated that plans to hold a jury trial for Ripple, CEO Brad Garlinhouse, and co-founder Chris Larsen will proceed.

Torres ruled that the XRP token was not a security with respect to programmatic sales on digital asset exchanges. This decision is not a final outcome of the SEC v. Ripple case, and the blockchain company, Garlinghouse, and Larsen may still be found liable for other charges.

After facing its own lawsuit from the SEC, Coinbase cited Torres' XRP decision in a hearing request filed on August 4. In a request for a separate hearing on July 31, another judge presiding over the regulator's case against Terraform Labs largely rejected the Ripple case ruling.

The SEC filed suit against Ripple and two executives in December 2020, and many exchanges likely removed XRP to avoid similar legal issues. But following Torres' decision on July 13, many companies relisted the token or said they were exploring the possibility of doing so.

Many top figures in the crypto space in the US are facing civil or criminal charges. The SEC has now filed civil lawsuits against Coinbase and Binance, and former FTX CEO Sam Bankman-Fried and former Celsius Network CEO Alex Mashinsky have been arrested and accused of defrauding customers.#Ripple#SEC #XRP

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